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Ripple v. SEC: Final Decision Is Ready, Lawyers Agree

Wed, 05/17/2023 - 09:45
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Gamza Khanzadaev
Decision on Ripple v. SEC may be imminent, legal experts opine
Ripple v. SEC: Final Decision Is Ready, Lawyers Agree
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A judge has reportedly ordered the U.S. Securities and Exchange Commission (SEC) to seal former SEC functionary William Hinman's documents in the Ripple case. This development has gained significant attention as these documents are seen as crucial in determining regulatory bias against Ripple and XRP, potentially hinting at corruption.

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Prominent pro-crypto lawyer Fred Rispoli commented on the situation, expressing his belief that the summary judgment ruling is likely near completion. While he anticipates no major surprises in the ruling, Rispoli finds the decision to unseal Hinman's e-mails noteworthy. He sees both positive and negative aspects in this outcome, as a complete Ripple victory could have negated the need for the production of these documents. Rispoli believes that the likelihood of an outright win for either Ripple or the SEC remains low, but the ruling's tone appears favorable to Ripple, raising hopes for the upcoming summary judgment ruling.

Echoing Rispoli's opinion, legal expert Jeremy Hogan suggested that the language used in the order indicates that a significant portion of the Order on Summary Judgment may already be drafted. Hogan speculates that this could imply either a win or loss for Ripple, while still leaving room for potential victories on different grounds. This ambiguity suggests that even in a scenario where Ripple loses, XRP holders could still emerge as winners.

Mark Fagel, an SEC enforcement specialist, concurs with Rispoli's assessment, considering it a well-reasoned evaluation of the situation. However, Fagel remains uncertain about whether this recent development indicates a favorable leaning toward Ripple in the summary judgment or if the court intends to address all pertinent issues during the trial.

Ripple CEO Celebrates Transparency Victory as Hinman Emails to be Unsealed

Overall, these legal professionals' analyses suggest a growing sense of optimism among Ripple supporters, buoyed by the perceived pro-Ripple tone of the ruling and the potential impact of Hinman's sealed documents. As anticipation builds for the summary judgment ruling, the outcome of the case continues to be closely watched by the crypto community and market observers alike.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.